Today's post is to give you a tip on how you can save up on your monthly/annual insurance premiums.
If you have made contributions to your CPF, you are most likely enrolled into the CPF's Dependents' Protection Scheme (DPS).
DPS is a life insurance scheme that provides your family with a lump sum of $46,000 when you:
1) become mentally or physically incapacitated from ever continuing in any form of employement
2) passed away
Its is a term insurance and is meant to insure you until you reach the age of 60.
In simple words, it is a term life insurance that insures you up to $46,000 and is paid by your CPF money.
If you are currently signed onto 'Dependents' Protection Scheme', you are being protected of $46,000.
This insurance's premium is paid via your CPF Ordinary Account (OA).
If you are unsure if you have this, you may ......
